Effect of Forensic Accounting Services on Fraudulent Practices in Nigerian Deposit Money Banks
Loading...
Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
EKSU Journal of the Management Scientists
Abstract
The magnitude of fraudulent practices has been on the increased over the years to become global epidemic affecting all sectors of the economy from the developed nations to the developing nations which requires expertise to tackle. This paper examines the effect of forensic accounting services on fraudulent practices in Nigerian Deposit Money Banks (NDMBs). The population of the study was the entire twenty-one (21) Quoted deposit money banks listed on the Nigerian Stock Exchange (NSE) as at December, 2018. 10 questionnaires were administered on the staff of each bank to have a total of two hundred and ten (210). The sample size of 136 was derived from the simplified sample size decision table of Krejcie and Morgan (1970). The study used purposive sampling technique to administer the questionnaire while the data was analysed using paired sample T-Test. The results revealed that forensic accounting has significant effect on fraudulent practices in Nigerian (DMBs). The study concluded that forensic accounting can be used to reduce fraudulent practices in Nigerian (DMBs) and recommended that Government should make forensic accounting/audit a statutory requirement for publicly quoted companies in the same manner as statutory audit entrenched in Company and Allied Matters Act (CAMA), 2004 (as amended). This will also bridge the ‘Expectation Gap’.